USD/CHF 1H Chart: Falling Wedge

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
Having attained a two-month high of 0.9156, USD/CHF has been retreating; early March the downswing became more distinct and the pair started to form a channel down pattern that now is over 150-bar long. While trading within two downward-sloping lines, the pair reached a two-year low of 0.8700, not far away from which it is vacillating at the moment. However, the pair may erase some losses in the hours to come taken into account that more than 67% of market participants are bullish on the pair. Meanwhile, technical data neither supports nor gainsay traders' view, sending neutral signals for short, medium and long terms.
© Dukascopy Bank SA
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